The Platinum And Palladium Play

2026-02-02 09:17:47 ET

On the last Friday of January, gold (XAUUSD:CUR) and its precious metal cousins all took a hammering. Gold down 11.39%, palladium (XPDUSD:CUR) 15.63%, platinum (XPTUSD:CUR) 18.97%, and silver (XAGUSD:CUR) down a whopping 31.37%. That’s quite a beating. The most likely reason behind it is the meteoric rise in precious metals. At some point, the charging locomotive is going to blow off steam. This natural blow-off (which usually occurs on a Friday) was likely amplified by traders who do not understand why gold and other precious metals are soaring, and thus assume that the lofty valuations were a mirage in the first place....

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